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India applied a new tax rate and banned from exporting some types of rice

India applied a new tax rate and banned from exporting some types of rice

INDIA IMPLEMENTS NEW TAX RATE AND BAN ON EXPORT OF SOME TYPES OF RICE FROM SEPTEMBER 9, 2022

September 8, 2022, The Directorate General of Foreign Trade of India issued notification No. 31/2015-2020, decided to ban the export of broken rice (broken – rice), HS code 1006 40 00, effective from September 9, 2022.

Some shipments will continue to be exported until September 15 if one of the conditions is met:
(i) Goods began to be loaded onto ships before this announcement;
(ii) The shipping invoice has been issued and the ship has arrived, anchored in an Indian port and the vessel's loading number was allocated;
(iii) The shipment was transferred to Customs before notification and was registered by Customs on the system.

Besides, September 8, 2022, The Indian Ministry of Finance also issued notification No. 49/2022-Customs effective from September 9, 2022 regarding the imposition of a 20% export tax on some types of rice such as::

(i) Paddy (HS 100610)
(ii) Brown rice (HS 10620)
(iii) Other types of rice except parboiled rice, Basmati rice (HS 10063090)

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